Figures from last year reveal that we listened to more ‘old’ catalogue music than ever before. But whilst that may initially sound like golden oldies are enjoying something of a heyday, there are some huge caveats.
It’s getting deeper into February already and the first part of the year is flying by. But that doesn’t mean we can’t take stock and reflect on stats from last year — especially when, at first, they seem striking.
In 2021, data reveals we listened to more old ‘catalogue’ music from than ever before. And not just by a hair’s breadth, but by a very significant margin. Statistics from MRC Data, and published in Music Business Worldwide, revealed that catalogue music accounted for a staggering 73.1% of music consumption in the U.S. whilst current music accounted for the remaining 26.9%.
This actually marked the first time ever that MRC Data recorded a drop in the consumption of current music, since they began recording such information in 2008.
And though these results were just for music consumption in the States, America actually represents the largest music market in the world, so provides a huge barometer on our listening habits at large.
Bruce Springsteen last year sold his back catalogue to make him the highest-earning musician.
The popularity in such back catalogues was backed by the multi-million-dollar sales of them from stars who may now, arguably, seem beyond their prime — legends like Bruce Springsteen, who topped the list of high-earners within the music industry as a result of his huge back catalogue sale.
Indeed, judging by our listening habits and the financial decisions of labels, it appears there’s a renaissance for the old. A certain nostalgia, if you will, possibly marked by our collective difficulty in the face of a pandemic and our clinging on to the good ol’ times.
But dig a little deeper, and that’s not the whole story.
For one thing, there’s an important definition to be had regarding ‘catalogue’ music, which is actually deemed by MRC Data as anything made more than 18 months ago. Dua Lipa’s Future Nostalgia? More than 18 months old. Dave’s Psychodrama? More than 18 months old. Billie Eilish’s When We All Fall Asleep, Where Do We Go? You get the gist.
Billie Eilish shouldn’t make you feel old.
And if any of that is making you feel old, it shouldn’t. 18 months is no time at all.
Taylor Swift alone, for instance, is an artist whose music straddles both sides of the current versus catalogue divide.
Another major impact of the pandemic – for anyone who’s been living under a rock, or simply suppressing any hope of gigs returning so as not to be disappointed – has been the widespread cancellation of tours.
This in itself may not have directly affected our listening habits, but it’s certainly had a knock-on effect, putting a spoke in the wheel of album releases, as artists tend to drop an album before going on tour, hoping more album sales equals more feet through the door of their concerts.
Alicia Keys is one of a number of big names to have postponed the release of an album last year.
Alicia Keys, Lady Gaga and The 1975 are all examples of big names to have pushed back album releases throughout the topsy-turvy past two years.
And as we grind our way out of the seemingly endless yo-yo of lockdowns and gig cancellations, expect a flurry of album drops throughout 2022, followed by the return of huge nationwide tours.
There may be a certain romanticism to the fact we’re listening to more old music – a narrative perhaps pushed hard by older, proud generations– but the starkness of us listening to catalogue music three times more than current music isn’t quite as unbelievable as it first seems.
They may not make them like they used to, but that doesn’t mean some of the new stuff isn’t worth listening to either – and by new, I mean within the last 18 months.
